Mattel Buys Pleasant Co. for $700 Million

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Toy company Mattel Inc. announced last week that it will acquire Pleasant Co., a direct marketer of the historically-inspired American Girl doll line, for $700 million.

"We might look at cataloging or direct marketing some of our products. We feel that Pleasant Co. has expertise in direct marketing, and we hope to benefit from that," said Glenn Bozarth, a spokesman at Mattel, El Segundo, CA.

Pleasant Co., which touts $300 million in annual revenues, will maintain its headquarters in Middleton, WI, and operate as an autonomous unit of Mattel. Pleasant Rowland, president and founder of Pleasant Co., will become vice chairman of Mattel and serve on Mattel's board of directors.

Mattel said its acquisition of the company will add modestly to its 1998 earnings.
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